19-4-40
Section 19-4-40 Definitions. When used in this article, the following words and phrases shall
have the following meanings, respectively, unless the context clearly indicates otherwise:
(1) FIDUCIARY. An administrator, an administrator with the will annexed, an administrator
de bonis non, an executor, a trustee, a guardian, a conservator, an agent or a custodian.
(2) FIDUCIARY ACCOUNT. An estate, a trust, a guardianship, a custodianship, an agency or any
other fiduciary relationship, including a custodianship or agency for another fiduciary or
fiduciaries. (3) BANK. A bank or trust company organized and existing under the laws of Alabama
with authority to act as a fiduciary and a national banking association with its principal
office in the State of Alabama and with authority to act as a fiduciary. (4) TREASURY SECURITY.
Any bill, note, bond, certificate of indebtedness or other evidence of indebtedness the principal
and interest of which the United States or any department, agency or...
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10A-2-15.41
Section 10A-2-15.41 Authority of foreign corporation to act as fiduciary. REPEALED IN THE 2019
REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE
SUPPLEMENT. (a) Any foreign corporation may act in this state as trustee, personal representative,
executor, administrator of any kind, guardian, conservator, or in any other like or similar
fiduciary capacity, whether the appointment is by law, will, deed, inter vivos trust, mortgage,
deed of trust, court order or otherwise, without the necessity of complying with any law of
this state relating to the qualification of foreign corporations to do business in this state
or the licensing of foreign corporations to do business in this state and notwithstanding
any prohibition, limitation, or restriction contained in any law of this state subject to
the following conditions: (1) The foreign corporation is authorized to act in a fiduciary
capacity, or capacities, in the state in which it is incorporated or, if...
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22-21-110
Section 22-21-110 Issuance of securities - Investment of trust funds. Unless otherwise directed
by the court having jurisdiction thereof and by the document which is the source of authority,
a fiduciary may, with the exercise of reasonable business prudence, invest trust funds in
securities of a hospital corporation for payment of the principal of, and interest on, which
the proceeds of any ad valorem, excise, license or privilege tax are pledged. (Acts 1949,
No. 640, p. 981, §8.)...
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22-21-79
Section 22-21-79 Investment of trust funds in corporation's securities. Unless otherwise directed
by the court having jurisdiction thereof or by the document which is the source of authority,
a fiduciary may, with the exercise of reasonable business prudence, invest trust funds in
securities of the corporation for payment of the principal of, and interest on, which the
proceeds of any ad valorem, excise, license or privilege tax are pledged. (Acts 1949, No.
46, p. 68, §9.)...
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23-1-312
Section 23-1-312 Bonds and notes - Exemption from taxation; use as security for deposits; eligibility
as investment for fiduciary funds. (a) Any obligations authorized by this article and the
income therefrom shall be exempt from all taxation in the state. (b) Any of the obligations
authorized by this article may be used by the holder thereof as security for the deposit of
any funds belonging to the state or to any instrumentality or agency of the state in any instance
where security for such deposits may be required by law. (c) Unless otherwise directed by
the court having jurisdiction thereof or by the document that is the source of power, a trustee,
executor, administrator, guardian or one acting in any other fiduciary capacity may, in addition
to any other investment powers conferred by law and with the exercise of reasonable business
prudence, invest fiduciary funds in any of the obligations authorized by this article. (Acts
1976, No. 565, p. 764, §13.)...
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33-2-187
Section 33-2-187 Docks facilities revenue bonds and refunding bonds - Exemption from taxation;
use to secure deposit and for investment of fiduciary funds authorized. Docks facilities revenue
bonds and refunding bonds and the income therefrom shall be exempt from all taxation in the
state. Any of the docks facilities revenue bonds or refunding bonds may be used by the holder
thereof as security for the deposit of any funds belonging to the state or to any instrumentality
or agency of the state in any instance where security for such deposits may be required by
law. Unless otherwise directed by the court having jurisdiction thereof, or by the document
that is the source of power, a trustee, executor, administrator, guardian, or one acting in
any other fiduciary capacity may, in addition to any other investment powers conferred by
law and with the exercise of reasonable business prudence, invest fiduciary funds in any of
the docks facilities revenue bonds or refunding bonds. (Acts 1984,...
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5-12A-1
Section 5-12A-1 Definitions. As used in this chapter, the following terms shall have the following
meanings, respectively, unless the context clearly indicates otherwise: (1) TRUST INSTITUTION.
Any state bank, any national bank or any trust company authorized to act in a fiduciary capacity
in this state and under the supervision of the Comptroller of the Currency of the United States
or the Federal Reserve System, or the Superintendent of Banks of the State of Alabama. (2)
AFFILIATED TRUST INSTITUTION. A trust institution which, together with one or more other trust
institutions, are each owned or controlled by a bank holding company which is under the supervision
of the Board of Governors of the Federal Reserve System. (3) OWNED OR CONTROLLED. The ownership
by a bank holding company of stock possessions of at least 80 percent of the voting power
of all classes of stock and at least 80 percent of each class of the nonvoting stock (other
than nonvoting stock which is limited and...
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16-17A-13
Section 16-17A-13 Investment in indebtedness. Indebtedness issued under the provisions of this
chapter is hereby made a legal investment for savings banks and insurance companies organized
under state law and for trustees, executors, administrators, guardians, persons, or organizations
acting in a fiduciary capacity, unless otherwise directed by a court having jurisdiction or
by a document providing fiduciary authority. Any governmental entity or public corporation
is authorized, in its discretion, to invest any available funds in securities of the authority.
(Act 2016-201, §13.)...
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37-13-18
Section 37-13-18 Eligibility of bonds as investments for trust funds. Bonds issued under the
provisions of this chapter are hereby made legal investments for executors, administrators,
trustees and other fiduciaries, unless otherwise directed by the court having jurisdiction
of the fiduciary relation or by the document that is the source of the fiduciary's authority.
Such bonds shall be legal investments for savings banks and insurance companies organized
under the laws of the state. (Acts 1984, No. 84-179, p. 256, §18.)...
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40-18-1
Section 40-18-1 Definitions. For the purpose of this chapter, the following terms shall have
the respective meanings ascribed by this section: (1) ADVANCED FOSSIL-BASED GENERATION. The
production of electricity from fossil-based generation with the use of technology or efficiency
improvements to control or reduce carbon emissions, including but not limited to, technologies
described in 26 U.S.C. § 48A(f), as such provision existed on December 31, 2007. (2) ALTERNATIVE
ENERGY RESOURCES. Coal gasification or liquefaction, nuclear, and advanced fossil-based generation.
(3) BIOMASS. Animals and plants, and the waste, by-products, or derivatives of either, including,
but not limited to, the materials described in 26 U.S.C. §§ 45(c)(2), 45(c)(3), 45K(c)(3),
or 48B(c)(4). (4) BUSINESS TRUST. Any entity which is a business trust for federal income
tax purposes. (5) CAPTIVE REIT. Any REIT whose shares or certificates of beneficial interest
are not regularly traded on an established...
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